Amgen Inc. (NASDAQ:AMGN) Receives $295.30 Consensus Target Price from Analysts

Shares of Amgen Inc. (NASDAQ:AMGNGet Free Report) have been given an average rating of “Hold” by the eighteen brokerages that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and nine have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $295.30.

A number of equities analysts have issued reports on AMGN shares. Daiwa Capital Markets upgraded Amgen from a “neutral” rating to a “buy” rating and increased their price target for the stock from $264.00 to $320.00 in a report on Thursday, December 21st. Royal Bank of Canada increased their price target on Amgen from $303.00 to $329.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. Oppenheimer reiterated an “outperform” rating and issued a $350.00 target price on shares of Amgen in a report on Thursday, February 1st. Truist Financial reiterated a “buy” rating and issued a $320.00 target price on shares of Amgen in a report on Wednesday, November 29th. Finally, The Goldman Sachs Group increased their target price on Amgen from $313.00 to $350.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th.

Get Our Latest Analysis on AMGN

Amgen Stock Performance

Amgen stock opened at $271.54 on Tuesday. The business has a 50 day moving average of $295.34 and a 200-day moving average of $279.27. Amgen has a 1 year low of $211.71 and a 1 year high of $329.72. The company has a debt-to-equity ratio of 10.14, a current ratio of 1.65 and a quick ratio of 1.13. The company has a market capitalization of $145.52 billion, a P/E ratio of 21.74, a P/E/G ratio of 2.58 and a beta of 0.58.

Amgen (NASDAQ:AMGNGet Free Report) last announced its earnings results on Tuesday, February 6th. The medical research company reported $4.71 EPS for the quarter, beating the consensus estimate of $4.66 by $0.05. Amgen had a return on equity of 154.27% and a net margin of 23.83%. The business had revenue of $8.20 billion for the quarter, compared to analysts’ expectations of $8.13 billion. During the same period in the prior year, the business posted $4.09 earnings per share. The firm’s revenue was up 19.8% on a year-over-year basis. On average, equities research analysts predict that Amgen will post 19.48 earnings per share for the current year.

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be given a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 3.31%. The ex-dividend date of this dividend is Thursday, May 16th. Amgen’s payout ratio is 72.06%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in AMGN. Vanguard Group Inc. grew its stake in Amgen by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 49,035,981 shares of the medical research company’s stock valued at $13,178,910,000 after purchasing an additional 165,636 shares during the last quarter. Morgan Stanley grew its stake in Amgen by 12.9% during the 4th quarter. Morgan Stanley now owns 13,301,365 shares of the medical research company’s stock valued at $3,493,471,000 after purchasing an additional 1,523,665 shares during the last quarter. Geode Capital Management LLC grew its stake in Amgen by 3.2% during the 2nd quarter. Geode Capital Management LLC now owns 11,799,183 shares of the medical research company’s stock valued at $2,613,646,000 after purchasing an additional 368,924 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Amgen by 4.5% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 11,241,858 shares of the medical research company’s stock valued at $2,495,917,000 after purchasing an additional 480,421 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC grew its stake in Amgen by 83,875.6% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 7,541,011 shares of the medical research company’s stock valued at $1,980,571,000 after purchasing an additional 7,532,031 shares during the last quarter. 74.44% of the stock is currently owned by hedge funds and other institutional investors.

About Amgen

(Get Free Report

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for men and women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout.

Further Reading

Analyst Recommendations for Amgen (NASDAQ:AMGN)

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